The Chinese GWM takes a 19.99% interest in T & G Global

GOLDEN WING MAU, the first Chinese importer and distributor of fruits acquired a 19.99% interest in the New Zealand company T & G GLOBAL.

 

GOLDEN WING MAU (GWM) has acquired shares in T & G GLOBAL amounting to NZD 72.2 million. The market value of these shares only reached NZD 61.3 million the GWM group paid a premium of approximately 18%.

 

This acquisition makes it the second largest shareholder of T & G GLOBAL. The New Zealand company is still controlled by BayWa, based in Germany, which holds about 73% of the shares.

 

The transaction is subject to Chinese regulatory approvals and expected to close around September 15.

 

GOLDEN WING MAU is one of the most important operators in China, with annual sales of 5 billion yuan.